Smiths Group plc announced the appointment of Mr David Challen CBE as a non-executive director. Mr Challen, vice-Chairman of Citigroup European Investment Bank and former Chairman of J Henry Schroder & Co Ltd, will join the Smiths Board on 21st September 2004.
It is anticipated that Mr Challen with succeed Sir Colin Chandler as chairman of the Audit Committee of the Smiths Group Board at the conclusion of the companys AGM on 16 November 2004, following Sir Colins retirement from Smiths.
The move follows the recent appointments of Donald Brydon as Chairman designate, and of Peter Jackson and Lord Robertson of Port Ellen as non-executive directors.
Commenting on the appointment, Smiths Chairman Keith Orrell-Jones said; "Davids in-depth knowledge of finance and his broad commercial experience will be great assets to Smiths and I am delighted to welcome him to the team. We continue to build the strength of the Board to match code requirements and plan a smooth succession of senior roles."
David Challen is a non-executive director of Anglo American plc, where he is chairman of the Audit Committee.
David Challen, who began his career in advertising with J Walter Thompson, held various positions at Schroders becoming a director in 1979 and Chairman of J Henry Schroder & Co Ltd in 1997. He was co-Chairman of Schroder Salomon Smith Barney from 2000 2002.
David Challen has extensive international experience in the financial sector and securities markets and has been responsible for advising boards of many major companies, both British and foreign, on capital raising, mergers and acquisitions and general financial matters.
Mr. Challen is a non-executive director of Anglo American plc and is chairman of the Audit Committee.
He is a member of the Panel on Takeovers and Mergers and was until recently a member of the Financial Reporting Council. In 2002 he received a CBE for services to the financial sector.
The company was advised in respect of this appointment by Oxygen, the search consultants. This is the third Board appointment handled by Oxygen for Smiths Group this year.